Rage on the Xbox 360, you should install it to the hard drive. However, the install will be a whopping 22GB, according to id Software, taking up a major chunk of space on the hard drive, especially if you have one of the older hard drives (and forget the 20GB HD, too.)
"On the 360 we don’t have a partial install option; it’s all or nothing, which is kind of unfortunate," id Software co-founder John Carmack stated, "It means you have to install 21/22GB of stuff which takes a long time but if you’ve got it and you play it on the 360 that’s the way to go."
The PlayStation 3 version has a whole other set of issues. According to Carmack, "Once you get everything from memory that works pretty good, but if you’re coming straight from the hard drive then the first time you walk into everything from the DVD or from the Blu-ray – even worse in terms of total latency time – you listen to that Blu-ray churning around as its pulling everything in." Ouch.
PC owners will only have to deal with the insane system requirements that the game will demand, and will probably have a gigantic install space, though 500GB hard drives are on low-end systems to begin with.
Rage will be released on October 4 for PC, Xbox 360 and PlayStation 3.